A trial balance does not balance. The owner believes the following mistakes WOULD cause animbalance. Do you agree? (Answer TRUE or FALSE for each statement)A. The owner forgot to record a cash saleB. A credit sale was recorded as a debit to sales and a debit to trade receivablesC. When transferring the bank overdraft from the Cash T account it was entered on thedebit side of the trial balanceD. Rates expense of £500 was debited to rent expenses and credited to cashE. A payment to a supplier of £690 was entered to cash as £690 but to trade payables as£609 A trial balance does not balance. The owner believes the following mistakes WOULD cause animbalance. Do you agree? (Answer TRUE or FALSE for each statement)A.The owner forgot to record a cash saleВ.When transferring the bank overdraft from the Cash T account it was entered on theA credit sale was recorded as a debit to sales and a debit to trade receivablesС.debit side of the trial balanceD.Rates expense of £500 was debited to rent expenses and credited to cashA payment to a supplier of £690 was entered to cash as £690 but to trade payables as£609Е.

A)Since the whole entry is not recorded, it will not cause any imbalance. B) since the amount is…

trial balance does not balance. The owner believes the following mistakes WOULD cause an imbalance. Do you agree? (Answer TRUE or FALSE for each statement) A. The owner forgot to record a cash sale B. A credit sale was recorded as a debit to sales and a debit to trade receivables C. When transferring the bank overdraft from the Cash T account it was entered on the debit side of the trial balance D. Rates expense of £500 was debited to rent expenses and credited to cash E. A payment to a supplier of £690 was entered to cash as £690 but to trade payables as £609

trial balance does not balance. The owner believes the following mistakes WOULD cause an imbalance. Do you agree? (Answer TRUE or FALSE for each statement) A. The owner forgot to record a cash sale B. A credit sale was recorded as a debit to sales and a debit to trade receivables C. When transferring the bank overdraft from the Cash T account it was entered on the debit side of the trial balance D. Rates expense of £500 was debited to rent expenses and credited to cash E. A payment to a supplier of £690 was entered to cash as £690 but to trade payables as £609

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter10: Cash Receipts And Cash Payments

Section: Chapter Questions

Problem 4DQ: In a cash receipts journal, both the Accounts Receivable Credit column and the Cash Debit column...

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Similar questions

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If a bookkeeper mistakenly recorded a $73 deposit as $37, the error would be shown onthe bank reconciliation as aa. $36 deduction from the book balance.b. $37 addition to the book balance.c. $36 addition to the book balance.d. $37 deduction from the book balance
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